Learn all about Agile portfolio management and how it can help you effectively manage a large portfolio of projects. Discover the benefits of this approach and how it differs from traditional portfolio management.
Introduction
Agile Portfolio Management is a methodology that enables organizations to align their project portfolios with their business goals in an Agile environment. In an Agile context, project management is approached iteratively and collaboratively, and the same principles are applied at the portfolio level. Agile Portfolio Management helps organizations manage their portfolios in a dynamic and fast-paced environment while maintaining strategic alignment with their business objectives.
Table of Content
- What is Portfolio Management?
- What is Agile?
- What is Agile Portfolio Management?
- Benefits of Agile Portfolio Management
What is Portfolio Management?
Portfolio management is the process of managing a collection of projects, programs, and other initiatives as a portfolio to achieve specific strategic business goals. Portfolio management involves selecting, prioritizing, and managing the portfolio to achieve the highest possible return on investment (ROI) while balancing risk and resource constraints.
What is Agile?
Agile is a project management methodology that emphasizes collaboration, flexibility, and continuous improvement. Agile is based on the Agile Manifesto, which prioritizes individuals and interactions, working software, customer collaboration, and responding to change.
What is Agile Portfolio Management?
Agile Portfolio Management is the application of Agile principles and practices to portfolio management. It involves the management of a portfolio of projects, programs, and other initiatives in an Agile environment, where changes are expected, and continuous improvement is a priority.
In Agile Portfolio Management, the portfolio is managed as a set of value streams, with each value stream representing a sequence of activities that deliver value to the customer. Agile Portfolio Management is focused on delivering value to the customer continuously and in a timely manner, while also providing transparency and visibility into the portfolio’s progress.
Benefits of Agile Portfolio Management
Agile Portfolio Management offers several benefits to organizations, including:
- Strategic alignment: Agile Portfolio Management helps align the portfolio with the organization’s business strategy, ensuring that the portfolio delivers the intended business value.
- Flexibility: Agile Portfolio Management provides flexibility in managing the portfolio, allowing organizations to respond to changes in the market or customer needs quickly.
- Transparency: Agile Portfolio Management provides visibility into the portfolio’s progress and allows stakeholders to track the delivery of value.
- Continuous improvement: Agile Portfolio Management focuses on continuous improvement, allowing organizations to refine their portfolios continually to optimize business value.
Conclusion
Agile Portfolio Management is a powerful methodology that enables organizations to manage their project portfolios in an Agile environment. It helps organizations align their portfolios with their business goals, provide transparency and visibility into the portfolio’s progress, and deliver value to the customer continuously. By adopting Agile Portfolio Management, organizations can achieve a competitive advantage in a fast-paced and dynamic business environment.
If you’re interested in learning more about Agile and SAFe Agile, TopD Learning offers a range of training courses to help you gain the skills and knowledge you need to succeed in your career.
